CBI files chargesheet in banking fraud of Rs 1.25 crore

NEW DELHI: CBI has filed a chargesheet in a Delhi court against nine persons, including three officials of Punjab National Bank, for allegedly

granting credit facility of Rs 1.25 crore to a private firm on the basis of over-valued mortgaged properties.

CBI files chargesheet in banking fraud of Rs 1.25 cr

“Investigation has revealed that the accused bank officials, by their act of omission and commission, disregarded the norms and banking rules, entered into a criminal conspiracy with private persons and caused a loss of Rs 1.25 crore to the bank,” the chargesheet filed before special CBI Judge O P Saini said.

After taking CBI’s probe report into the records, the court has now fixed the matter for consideration and cognizance on October 21.

The probe agency has sought prosecution of nine accused including two bank officials, Nisha Jolly and Anil Wanchoo, and Avinash Goel, his wife Seema and Vikas Goel, partners of private firm A B International which had availed the credit facilities.

A L Pahwa, a former Bank employee, who allegedly had played a crucial role in the fraud, died during the probe, CBI said.

The firm, engaged in export of garments, had opened an account with PNB at its Defence Colony branch and sought credit facilities by proposing to mortgage its three properties in the capital, CBI said.